Home Automotive RO Group acquires £6.2m Reading Honda showroom

RO Group acquires £6.2m Reading Honda showroom

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RO Group acquires £6.2m Reading Honda showroom

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The RO Group has acquired the freehold of the Marshall Studying Honda dealership for £6.2 million. 

The property is situated inside a regional industrial hub that features Ford, Kia, Hyundai, Volkswagen and Suzuki together with the Studying Hyperlink Retail Park strategically situated off the A33.

Nick Cashmore, funding director at RO Actual Property, commented: “It’s thrilling to begin the New 12 months by finishing this acquisition, which is especially important as we search to develop the group’s roadside portfolio in 2024. 

“This properly situated asset gives us a very enticing operating yield and future growth optionality given the very low website cowl. We’re actively searching for new alternatives for distinguished roadside websites for growth throughout the Midlands and South.”

Invoice Bexson, head of the automotive workforce at Savills, added: “The Honda showroom supplied the RO Group with a superb alternative to accumulate a first-rate properly situated facility.  At current, there’s a extreme provide / demand imbalance within the wider occupational market, which we anticipate will over time supply a number of asset enhancement alternatives.”

The acquisition mirrored a internet preliminary yield of 9.93%. The property is let in its entirety to Honda Motor Europe for a time period of 25 years expiring in 2033, with a break clause in October 2028.

Spanning 16,400 sq ft, the dealership options a big showroom, a state-of-the-art workshop and complete aftersales services. 

 

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